Peacock Raises Prices Again After First Profitable Quarter Ever

Peacock is increasing its prices, marking the fourth price hike in as many years. The streamer announced the price changes for new and returning subscribers starting on Tuesday. The increase is part of Peacock's first profitable quarter, which occurred just last month. Starting on September 17, new subscription prices will go into effect on the next billing date.

Peacock Premium, which includes ads, will cost $12.99 per month, up from $10.99. Peacock Premium Plus will now be $19.99 per month, an increase of $3 from $16.99. Peacock Select will be priced at $8.99 per month, up from $7.99. Annual plans have also seen price increases, with the Peacock Premium annual subscription rising to $129.99 from $109.99, and the Peacock Premium Plus annual subscription jumping to $199.99 from $169.99.

Peacock achieved profitability six years after its launch, generating $189 million during Comcast's second quarter. This marked a significant shift from a loss of $101 million in the prior-year period, with revenue growing to $1.9 billion from $1.2 billion in the previous year. The company added 2 million paid subscribers, bringing the total to 48 million, fueled by the NBA playoffs, FIFA World Cup, and "Love Island USA."

Peacock's co-CEO, Mike Cavanagh, attributed the profitability to effectively managing event-driven churn by capitalizing on major moments and retaining users with their broader content offerings. However, he cautioned that Peacock's future profitability could vary from quarter to quarter, depending on the timing of sports schedules and other content.